WEDNESDAY AFTERNOON UPDATE:
This week’s FOMC meeting has adjourned with no change to key short-term interest rates. However, we still got plenty of information to digest from the meeting. Key points include the Fed is starting to plan for a reduction in the $120 billion monthly bond purchases they currently make. Analysts are taking the comments in the post-meeting statement to estimate they will start tapering by the end of the year. The only FOMC meetings scheduled between now and the end of the year come early November and mid-December. It appears they tried to stress that starting to taper the purchases is not a sign they will begin raising key rates, which is likely helping to keep the markets at ease.
30 yr - 1.31%